Organized Money Who Really Controls Your Food?
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Dec 17, 2024 Basel Musharbash, an antitrust and trade regulation lawyer, discusses the alarming concentration of power in America's food industry. He reveals how just three dozen corporations control nearly all aspects of food production, shaping prices and market dynamics. Musharbash looks at historical turning points, from the New Deal reforms to recent deregulation, which exacerbated challenges for farmers. He also critiques the monopolistic practices in the seed and egg markets, highlighting their detrimental effects on both producers and consumers.
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Potato Cartel
- Four companies control 98% of the potato market, allegedly coordinating price increases on frozen potato products.
- Lawsuits allege a 47% price jump between July 2022 and July 2024 due to this "potato cartel."
Food Price Fixing
- Food price fixing scandals are common because a small number of companies control the market.
- This makes coordination easier, giving them an opportunity to manipulate prices.
Corporate Control of Food
- Roughly three dozen corporations control most of America's food system, from farm to table.
- This concentration allows them to shape everything from seed prices to distribution, impacting farmers and consumers.